Mergers & Acquisitions

Los Angeles -- BH Properties, a Los Angeles-based firm that specializes in acquiring and repositioning challenged or distressed commercial real estate properties, has announced the promotion of Steven Jaffe to chief investment officer and principal of the firm. In this role, Jaffe is responsible for overseeing the acquisition and disposition strategy of the company as well as the company’s overall growth.

Jaffe has been with BH Properties for 11 years, previously holding the title of executive VP and general counsel.

Dublin, Calif. -- Ross Dress for Less will open two new stores in the Houston area on March 7.

The stores are located in the Center at Pearland Parkway in East Pearland, 15 miles from downtown Houston; and Ravenwood Village Shopping Center in Huntsville. With these new locations, Ross will operate 170 stores in Texas, its second largest state.

Together, Ross Dress for Less and dd’s Discounts currently operate over 1,300 off-price apparel and home fashion stores in 33 states, the District of Columbia and Guam.
 

It's official: The long-struggling RadioShack has filed for Chapter 11 bankruptcy protection. The 94-year-old retailer made its filing in  U.S.

Coach Inc. has added a luxury retail veteran to its board of directors.

“We are extremely pleased that Andrea Guerra has agreed to join our board,” said Victor Luis, CEO at Coach Inc. “As Coach continues its transformation into a modern luxury lifestyle brand, Andrea's extensive exposure to a wide variety of best-in-class brands and his broad retail and international experience will prove valuable to our team."

Coach's efforts to regain its upscale brand identity received a boost this month with the addition of a veteran luxury goods retailer to its board of directors.

“We are extremely pleased that Andrea Guerra has agreed to join our board,” said Victor Luis, CEO at Coach Inc. “As Coach continues its transformation into a modern luxury lifestyle brand, Andrea's extensive exposure to a wide variety of best-in-class brands and his broad retail and international experience will prove valuable to our team."

Profit for rent-to-own giant Aaron’s, which has struggled with declining foot traffic and sluggish sales, fell 35% for 2014 and about 2.75% in the fourth quarter of last year.

New York -- In an indication that the end could be getting close, RadioShack Corp. will close its distribution center in Hagerstown, Maryland, the Dallas Business Journal reported.

The move will result in some 87 layoffs.

The report cited the Maryland Department of Labor, Licensing and Regulation, which said the facility will close March 11. The news of the closing follows reports that the struggling chain is near to filing Chapter 11 bankruptcy protection.
 

New York -- A mixed economic backdrop is expected to drive modest retail sales growth in the 3% to 4% range in 2015, compared to 5.5% average growth in 2010-2012 and 5.8% in 2002-2006, according to GE Capital. Low- and mid-income households will be particularly constrained by stagnant earnings despite improvements in employment status and the housing market as well as lower gas prices.
 
According to GE Capital, the key trends in retail include the following:

New York -- U.S. retail and consumer (R&C) total transaction value for 2014 hit a five-year high and surpassed the $100 billion mark for the second year in a row, according to PwC’s U.S. retail and consumer deals insights 2014 Year in Review and 2015 Outlook report.

Denton, Texas -- Sally Beauty Holdings announced that president and COO Chris Brickman succeeded Gary Winterhalter as CEO effective on Feb. 1. Winterhalter will continue to serve the company as executive chairman.

The changes are consistent with the company’s previously announced executive transition plan.